5 Best Climate Change Stocks To Buy According To Hedge Funds

2. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 73

NextEra Energy, Inc. (NYSE:NEE) is an electric utility company. It generates and distributes electric power to retail and wholesale customers in North America. Its energy is generated through wind and solar facilities, alongside nuclear, coal, and natural gas facilities.

A Buy rating was reiterated on NextEra Energy, Inc. (NYSE:NEE) on October 24 by analyst Shahriar Pourreza, who also placed a $99 price target on the stock.

NextEra Energy, Inc. (NYSE:NEE) is the perfect pick for dividend growth investors looking to delve into the clean energy sector. The company has been growing its dividend for over 27 years, and its five-year dividend growth rate is 11.6%. The company’s PE ratio has remained at around 40 since 2019.

Out of 920 hedge funds tracked in the third quarter, 73 hedge funds were long NextEra Energy, Inc. (NYSE:NEE), with a total stake value of $2.1 billion.

ClearBridge Investments, an investment management company, mentioned NextEra Energy, Inc. (NYSE:NEE) in its third-quarter 2022 investor letter. Here’s what the firm said:

“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”